A person who has not received a certificate to do a banking business from the Director of the Department of Consumer and Business Services, except a national bank, shall not:
(1) Advertise that it is receiving or accepting money on deposit.
(2) Use a sign at its place of business containing words indicating that the place is a place of business:
(a) Of a banking institution;
(b) Where deposits are received or payments made on check; or
(c) Where any other form of banking business is transacted.
(3) Make use of or circulate any letterheads, blank notes, blank receipts, certificates, circulars or any written or printed paper containing words indicating that the business is the business of a banking institution.
(4) Transact business under any name that the director determines leads the public to believe that its business is that of a banking institution or that it is affiliated with a banking institution.
(5) Solicit or receive deposits or transact business in the manner of a banking institution or in such a manner as to lead the public to believe that its business is that of a banking institution. [Amended by 1973 c.797 §51; 1997 c.631 §30]Section: Previous 707.005 707.007 707.010 707.020 707.023 707.025 707.029 707.030 707.035 707.040 707.050 707.060 707.070 707.075 707.080 Next
Last modified: August 7, 2008